Adding Intelligence to Life

Reliance
Life
Insurance Company is a part of Reliance Capital of the Reliance-Anil
Dhirubhai Ambani Group. Reliance Capital is one of India's leading
private sector financial services companies, and ranks among the top
3 private sector financial services and banking firms, in terms of
net worth. As a step towards making its operations manually viable
and error free, the company decided to go for Business Intelligence
(BI) implementation. Opting to address the audit process as being
crucially important, the company implemented QlikView solutions
through Delhi- based Team Computers. Avadaiappan Rajendran, CEO, Team
Business Solutions said, “We started phase I in August 2006 and
completed in Feb 2007. Since then, many phases have been done. In the
meantime, we expanded to other Reliance Capital companies including
general insurance, consumer finance and Reliance Money.”

CHALLENGES

The major
challenge that Reliance Life Insurance faced was the fact that the
reporting
process was done manually where employees had to manually extract
data from Life Asia software for capturing policy data and then
compile them in MS Excel format. This proved not only time consuming
but also ascertaining accuracy and consistency between the reports
was a cumbersome effort, as there were no linkages between the Excel
sheets which led to delay in decision making. Hence, in order to
enable their team to provide customized solutions to their
clients-individual and corporate-and to provide access to
reporting tools that could analyze the data and drill down to the
bleeding end or profitable sources the company implemented QlikView.
It helped it drill down the data to individual policy level, and
provided dashboards and charts across hierarchy and patterns.
According to C Mohan, CTO, Reliance Life Insurance, “With QlikView
solutions, now the management can view hourly refreshed data related
to their domain and take necessary decisions or monitor the
activities. The implementation was by and large smooth, and completed
within 3 months.”

SOLUTIONS

Reliance Life
Insurance has deployed QlikView for 1,050 users across India which is
able to aggregate data from Life Asia, Talisma, Credence, Prophet,
Policy Tracking System and Shared Services. Rajendran said, “We
provide implementation practice and product enhancement to handle
enterprise deployment needs. Over 40applications were created and
QlikView becamebusiness processes across the organization and
automating the entire manual reporting process.

BENEFITS

Mohan said,
“We embarked on QlikView solution as this was able to pull the data
from different data sour ces, thus eliminating the manual
intervention and hence reducing manual error. This solution gave a
better comparative study of our expenses v/s revenue which in turn
improved the quality and delivery performance. By deploying QlikView,
reports were easily created on the basis of their key KPIs like
premium, policies, sum assured, ratios,lapses, withdrawals and
surrenders.” QlikView provided a bird's eye view to the top level
management, which in turn helped them identify the pain areas in
their department. Also, with the help of QlikView, slicing and dicing
of data is possible. He further added, “QlikView has contributed
tremendously
in strategic decision making at Reliance Life Insurance.”

TESTIMONIAL

Mohan sums up
saying, “Today, with a user base of over 800 comprising top
management down to branch manager, QlikView has become a one-point
source for our daily reporting needs. It has become a day-to-day
usage tool for the process team. The flexibility in the system helps
us to do analysis and gives a graphical picture of the performance
against the set parameters within seconds. This is a very powerful
tool that helps us identify the adherence to the set standards and
take corrective actions to plug the gaps.”